Casey's General Stores, Inc. $CASY Stock Holdings Increased by Denali Advisors LLC

Key Points

• Denali Advisors LLC boosted its Casey’s General Stores stake by 262.9% in the fourth quarter, ending with 7,008 shares valued at about $3.87 million.
• Wall Street remains broadly positive on CASY, with a Moderate Buy consensus and an average price target of $725.09; several firms recently raised their targets, including UBS, Wells Fargo, RBC, and Stephens.
• Casey’s reported better-than-expected earnings for the latest quarter, posting $3.49 EPS versus the $2.94 estimate, while also announcing a quarterly dividend of $0.57 per share payable May 15.

Denali Advisors LLC lifted its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 262.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,008 shares of the company's stock after purchasing an additional 5,077 shares during the quarter. Denali Advisors LLC's holdings in Casey's General Stores were worth $3,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in CASY. Foster Dykema Cabot & Partners LLC acquired a new position in Casey's General Stores in the third quarter worth approximately $25,000. Westside Investment Management Inc. increased its holdings in Casey's General Stores by 100.0% in the third quarter. Westside Investment Management Inc. now owns 46 shares of the company's stock worth $26,000 after buying an additional 23 shares during the last quarter. True Wealth Design LLC increased its holdings in Casey's General Stores by 350.0% in the fourth quarter. True Wealth Design LLC now owns 54 shares of the company's stock worth $30,000 after buying an additional 42 shares during the last quarter. Central Pacific Bank Trust Division increased its holdings in Casey's General Stores by 52.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company's stock worth $30,000 after buying an additional 19 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in Casey's General Stores in the third quarter worth approximately $33,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CASY has been the topic of a number of research reports. UBS Group increased their price objective on Casey's General Stores from $600.00 to $706.00 and gave the stock a "neutral" rating in a report on Wednesday, March 11th. Bank of America initiated coverage on Casey's General Stores in a report on Friday, January 9th. They issued a "buy" rating on the stock. Wells Fargo & Company increased their price objective on Casey's General Stores from $725.00 to $745.00 and gave the stock an "overweight" rating in a report on Tuesday, March 10th. Royal Bank Of Canada increased their price objective on Casey's General Stores from $662.00 to $713.00 and gave the stock a "sector perform" rating in a report on Tuesday, March 10th. Finally, Stephens restated an "overweight" rating and issued a $680.00 price objective on shares of Casey's General Stores in a report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Casey's General Stores presently has a consensus rating of "Moderate Buy" and an average price target of $725.09.

Casey's General Stores Trading Up 1.0%

Shares of CASY stock opened at $859.49 on Friday. Casey's General Stores, Inc. has a 12 month low of $430.00 and a 12 month high of $868.08. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 0.61. The business's 50 day moving average is $729.25 and its two-hundred day moving average is $634.05. The company has a market cap of $31.77 billion, a PE ratio of 49.34, a price-to-earnings-growth ratio of 2.35 and a beta of 0.65.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, beating the consensus estimate of $2.94 by $0.55. Casey's General Stores had a return on equity of 17.56% and a net margin of 3.83%.The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the company posted $2.33 earnings per share. The company's revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts predict that Casey's General Stores, Inc. will post 18.24 EPS for the current year.

Casey's General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, May 1st. Casey's General Stores's dividend payout ratio (DPR) is 13.09%.

Insider Activity at Casey's General Stores

In related news, Director Mike Spanos purchased 300 shares of the stock in a transaction on Friday, March 13th. The shares were bought at an average price of $665.43 per share, for a total transaction of $199,629.00. Following the completion of the acquisition, the director directly owned 4,499 shares in the company, valued at approximately $2,993,769.57. This trade represents a 7.14% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Katrina S. Lindsey sold 200 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total value of $136,608.00. Following the transaction, the insider owned 4,039 shares in the company, valued at approximately $2,758,798.56. This trade represents a 4.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.54% of the company's stock.

About Casey's General Stores

Casey's General Stores, Inc NASDAQ: CASY is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company's stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.

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